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NAR joined a coalition of housing, finance, and consumer groups requesting an extension of the FHFA's comment period on its proposed capital rule.
The proposal was made public earlier this month with a 60-day comment period that began on July 1st. The rule is an update to a 2018 proposal by the agency. The new proposal incorporates a number of significant changes that would meaningfully raise the level of capital the GSEs must hold above the 2018 proposal and makes it harder to structure the capital. As a result, these changes would have far reaching impacts on the GSEs' business models and their abilities to carry out their mission.
NAR and the coalition have requested an additional 60 days for analysis and comment which would make the comment due by the end of October.